6 ms·

Can you share more about the stock option loan program? If it is what it sounds like, that program is unconscionable insanity and whoever is encouraging employe

Can you share more about the stock option loan program? If it is what it sounds like, that program is unconscionable insanity and whoever is encouraging employees to engage with it is setting employees up for a world of hurt.

tehlike 4y ago
This has details https://twitter.com/theryanking/status/1493390167461224451 https://twitter.com/theryanking/status/1493390167461224451
- ivanstojic 4y ago
  > There IS risk to the employee; they now have a real loan outstanding and 100% personal recourse, so if the common stock becomes less than exercise price, their personal assets are on the hook https://twitter.com/theryanking/status/1493390184897032201?s=20&t=-V4NOKIykQ3L0BGLNxC-oA https://twitter.com/theryanking/status/1493390184897032201?s...
- wavesounds 4y ago
  Why didn't they just give them RSUs instead of doing this super complicated risky thing?
  - stu2b50 4y ago
    More upside presumably, since if you do wait the time, and the stock isn't underwater, then you can sell and be taxed as long term capital gains. I really don't think that's a good gamble for an employee to take, but oh well.
- bogomipz 4y ago
  Wow. After reading this I clicked on CEO Ryan Breslow's Twitter profile pic which is of him barefoot, wearing a psychedelic hoodie and sitting in a yoga position with his palms upturned. Between this loan idea, the self-reference to the 4 day work week and the yogi pose, it's like something straight out of HBO's "Silicon Valley."
  - fdgsdfogijq 4y ago
    hahah yeah I had this same reaction a few hours ago. He even has those obnoxious turquoise earings on.
  - me_me_mu_mu 4y ago
    lol but that's like most ppl in tech tbh
    - temp_praneshp 4y ago
      I guess you joined the industry 2 weeks ago.
      - me_me_mu_mu 4y ago
        some people in tech have always been pretentious.
  - deleted 4y ago
    [deleted]
  - ta988 4y ago
    Read that: https://www.forbes.com/sites/stevenbertoni/2022/04/04/meet-the-gen-z-billionaire-whos-speaking-his-truth-to-silicon-valley https://www.forbes.com/sites/stevenbertoni/2022/04/04/meet-t... That's even beyond what the show depicted!
    - MrMan 4y ago
      wow
- xwowsersx 4y ago
  Wow, everything about this thread -- from the kitschy, nearly condescending rara tone, to the exclamations about something never having been done before being a reason to it -- as well as his profile pic just screams to me that this is a company with a totally broken ethos buried in some weird SV startup pathology. It's all just so weird.
fdgsdfogijq 4y ago
Half of the employees participated
dang 4y ago
We detached this subthread from https://news.ycombinator.com/item?id=31510715 https://news.ycombinator.com/item?id=31510715 so it wouldn't suffer from that one being collapsed.

tehlike 4y ago

This has details https://twitter.com/theryanking/status/1493390167461224451 https://twitter.com/theryanking/status/1493390167461224451

ivanstojic 4y ago
> There IS risk to the employee; they now have a real loan outstanding and 100% personal recourse, so if the common stock becomes less than exercise price, their personal assets are on the hook https://twitter.com/theryanking/status/1493390184897032201?s=20&t=-V4NOKIykQ3L0BGLNxC-oA https://twitter.com/theryanking/status/1493390184897032201?s...
wavesounds 4y ago
Why didn't they just give them RSUs instead of doing this super complicated risky thing?
- stu2b50 4y ago
  More upside presumably, since if you do wait the time, and the stock isn't underwater, then you can sell and be taxed as long term capital gains. I really don't think that's a good gamble for an employee to take, but oh well.
bogomipz 4y ago
Wow. After reading this I clicked on CEO Ryan Breslow's Twitter profile pic which is of him barefoot, wearing a psychedelic hoodie and sitting in a yoga position with his palms upturned. Between this loan idea, the self-reference to the 4 day work week and the yogi pose, it's like something straight out of HBO's "Silicon Valley."
- fdgsdfogijq 4y ago
  hahah yeah I had this same reaction a few hours ago. He even has those obnoxious turquoise earings on.
- me_me_mu_mu 4y ago
  lol but that's like most ppl in tech tbh
  - temp_praneshp 4y ago
    I guess you joined the industry 2 weeks ago.
    - me_me_mu_mu 4y ago
      some people in tech have always been pretentious.
- deleted 4y ago
  [deleted]
- ta988 4y ago
  Read that: https://www.forbes.com/sites/stevenbertoni/2022/04/04/meet-the-gen-z-billionaire-whos-speaking-his-truth-to-silicon-valley https://www.forbes.com/sites/stevenbertoni/2022/04/04/meet-t... That's even beyond what the show depicted!
  - MrMan 4y ago
    wow
xwowsersx 4y ago
Wow, everything about this thread -- from the kitschy, nearly condescending rara tone, to the exclamations about something never having been done before being a reason to it -- as well as his profile pic just screams to me that this is a company with a totally broken ethos buried in some weird SV startup pathology. It's all just so weird.

fdgsdfogijq 4y ago

Half of the employees participated

dang 4y ago

We detached this subthread from https://news.ycombinator.com/item?id=31510715 https://news.ycombinator.com/item?id=31510715 so it wouldn't suffer from that one being collapsed.